ImClone in Japanese Erbitux partnership |
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Published
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Wed, 17 Oct 2007 11:27
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NEW YORK (AP) - ImClone Systems Inc., Bristol-Myers Squibb Co. and Merck KGaA agreed to jointly develop and market ImClone's cancer drug Erbitux in Japan for the treatment of advanced colorectal cancer, the drug companies said Wednesday.ImClone manufactures Erbitux and already partners with New York-based Bristol-Myers and Germany's Merck to market the drug in the U.S. and Europe, respectively.Earlier this year, the three companies submitted an application in Japan to market Erbitux for the treatment of metastatic colorectal cancer.If approved, Merck KGaA will receive 50 percent of the profit made in Japan, and New York-based ImClone and Bristol-Myers will each receive 25 percent. ImClone will also receive royalties equal to 4.75 percent of total Japan salesfrom Merck KGaA.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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ImClone, Bristol-Myers, Merck KGaA to jointly develop, market Erbitux in Japan 